The Minister of Energy and Energy Industries, the Honorable Stuart Richard Young, M.P has announced that there has been no authorized increase in the price of Liquid Petroleum Gas (LPG). Details follow in this press release from the minister.
The Government’s position with respect to Liquid Petroleum Gas (LPG) is clear, there has been no authorized increase in the price of LPG.
In the recent debate on legislation to liberalize the fuel market the Minister of Energy and Energy Industries, the Honorable Stuart R. Young, M.P., articulated Government’s policy position that the price of LPG would not be increased.
This was confirmed by the Minister of Finance, the Honourable Colm Imbert, M.P., in his budget presentation on Monday 4 October, 2021.
LPG is very heavily subsidized by the taxpayers as part of Government policy and this continues to be the policy.
Minister Young confirms that he has not authorized any increase in price of LPG.
“I have communicated with the Chairman of National Petroleum and confirmed with him that there is no authorization to adjust the price of LPG.
Chairman Sahid Hosein has confirmed that NP has taken the necessary internal action to communicate the Government’s position and indicated that the communication which appears to have been sent by an employee of NP to a particular gas station dealer was not authorised. Steps have been taken to address this matter.
There is an issue related to transportation and handling cost to get LPG cylinders to various dealers and this appears to be a matter requiring discussion. However, the Government position remains that the price of LPG is not to be increased.
Minister Young has requested a report on the LPG market and pricing from the Permanent Secretaries of the Ministry of Energy and Energy Industries in order to see what further measures may be necessary to maintain the Government’s policy position.
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